December, 13 2021, 05:22pm EDT
Groups Tell Department of Labor: Act on Climate Risks to Retirement Savings
Today marks the close of the public comment period on a proposed rulemaking from the Department of Labor that would restore flexibility to managers of pension funds and retirement accounts to consider the environment, social justice, and corporate governance in making investments and voting on shareholder proposals.
The proposed rule would undo a push by the Trump administration to impose additional costs and burdens meant to discourage fund managers of private employer-sponsored retirement plans from considering climate change in their decision making.
WASHINGTON
Today marks the close of the public comment period on a proposed rulemaking from the Department of Labor that would restore flexibility to managers of pension funds and retirement accounts to consider the environment, social justice, and corporate governance in making investments and voting on shareholder proposals.
The proposed rule would undo a push by the Trump administration to impose additional costs and burdens meant to discourage fund managers of private employer-sponsored retirement plans from considering climate change in their decision making.
The Sierra Club and Americans for Financial Reform Education Fund submitted a comment letter today, signed by 12 groups, supporting the proposed rule and detailing additional actions DOL can take to strengthen protections for retirement savings from systemic risks like the climate crisis. Thousands of public comments were also submitted to DOL urging the department to go further by requiring fund managers to consider climate risk and provide options for savers who want to invest in sustainable businesses.
"For far too long, fund managers have gambled with workers' retirement funds by placing bets on risky fossil fuels, ignoring the risks the climate crisis poses to our society and our economy. This proposed rule would be a critical step toward protecting workers and retirees from the devastating impact climate change could have on their life savings," said Sierra Club Fossil-Free Finance Campaign Manager Ben Cushing. "But DOL must go further. Given the scale of the climate-related risks facing our financial system, considering these risks cannot just be an option for plan managers. It must be a requirement for them to do their fiduciary duty and protect retirees from the financial impacts of the climate crisis."
"The DOL was right to move quickly to restore discretion to fiduciaries to consider climate and other sustainability factors, which have become core components of modern investing and must be integrated into a prudent investment process," said Americans for Financial Reform Sr. Policy Analyst Alex Martin. "Typical retirement savers with long investment horizons and broad ownership of the market are facing multiple systemic threats to their retirement income, including climate change and growing racial and economic inequality. Fiduciaries must be able to take these matters into account to protect the long term economic security of workers and retirees."
The Sierra Club is the most enduring and influential grassroots environmental organization in the United States. We amplify the power of our 3.8 million members and supporters to defend everyone's right to a healthy world.
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Over 75 Nobel Laureates Call On Senate to Reject RFK Jr. as Health Secretary
"In view of his record, placing Mr. Kennedy in charge of DHHS would put the public's health in jeopardy," said the winners of the prestigious prize.
Dec 10, 2024
Nobel laureates rarely wade into politics as a group, but Monday marked the second time in two months that dozens of winners of the prestigious Nobel Prize have banded together to speak out against the agenda of President-elect Donald Trump—this time, calling on U.S. senators to reject his nomination of Robert F. Kennedy Jr. to lead the Department of Health and Human Services.
More than 75 Nobel laureates signed a letter warning lawmakers about Kennedy's record of attacking the very agencies he would have power over if confirmed to be Trump's secretary of health and human services, his history of amplifying discredited conspiracy theories about public health—sometimes with deadly consequences—and his "lack of credentials or relevant experience in medicine, science, public health, or administration."
"In view of his record, placing Mr. Kennedy in charge of DHHS would put the public's health in jeopardy and undermine America's global leadership in the health sciences, in both the public and commercial sectors," wrote the Nobel laureates.
Kennedy has alarmed dental experts with his proposal to remove fluoride, which prevents tooth decay, from public drinking water—a plan that Trump has said "sounds OK." The president-elect also said Sunday he would have Kennedy investigate the conspiracy theory that vaccines cause autism, which was the argument made by a 1998 article that has since been retracted and has been debunked by numerous international studies.
The environmental lawyer—whose views and political ambitions have been disavowed by other members of the prominent Kennedy family—has also been condemned for falsely claiming in a letter to the prime minister of Samoa in 2019 that the measles vaccine itself may have caused a measles outbreak that had killed 16 people there. By the time the outbreak was over, 80 people had died, and experts partially blamed "increasing circulation of misinformation leading to distrust and reduced vaccination uptake."
"Maybe there are some [senators] who will read this and think: 'Well, we really do want to protect the health of our citizens. They didn't elect us so that we could kill them,'" Richard Roberts, a co-author of Monday's letter and the winner of the 1993 Nobel Prize in physiology or medicine for his discovery of split genes, told The New York Times.
Other beliefs of Kennedy's include his rejection of the established scientific fact that the HIV virus causes AIDS and his claim that unpasteurized raw milk "advances human health" and that the Food and Drug Administration (FDA) has purposely suppressed that information.
Food scientists say there is no documented proof that raw milk has the health benefits proponents like Kennedy claim it does, but there is ample proof that unpasteurized milk contains bacteria and viruses, including H5N1, the avian flu that's been detected in dairy cow herds in at least 15 states.
The Nobel laureates noted that Kennedy has also been a "belligerent critic" of the FDA and other health agencies and employees that are part of DHHS, calling for vaccine scientists to be imprisoned and threatening to fire FDA and National Institutes of Health employees.
"The leader of DHHS should continue to nurture and improve—not threaten—these important and highly respected institutions and their employees," reads the letter, which was signed by Nobel Prize winners including economist Simon Johnson, vaccine scientist Drew Weissman, and Victor Ambros and Gary Ruvkun, who won the prize in physiology or medicine for discovering microRNA.
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The United Kingdom-based oil giant Shell agreed Tuesday to settle a major lawsuit the company brought against Greenpeace after activists from the group boarded and occupied a company oil platform last year to protest fossil fuel expansion.
Greenpeace said in a statement that as part of the settlement, it agreed to donate £300,000—roughly $382,000—to the Royal National Lifeboat Institution, a charity that helps save lives at sea, but will pay nothing to Shell and accept no liability. The donation represents a fraction of the over $11 million in damages and legal costs defendants faced, the group said.
The Greenpeace defendants have also "agreed to avoid protesting for a period at four Shell sites in the northern North Sea."
"Shell thought suing us for millions over a peaceful protest would intimidate us, but this case became a PR millstone tied around its neck," said Areeba Hamid, co-executive director of Greenpeace U.K. "The public backlash against its bullying tactics made it back down and settle out of court."
"This settlement shows that people power works. Thousands of ordinary people across the country backed our fight against Shell and their support means we stay independent and can keep holding Big Oil to account," Hamid added. "This legal battle might be over, but Big Oil's dirty tricks aren't going away. With Greenpeace facing further legal battles around the world, we won't stop campaigning until the fossil fuel industry stops drilling and starts paying for the damage it is causing to people and planet."
"These aggressive legal tactics, the huge sums of money, and attempts to block the right to protest pose a massive threat."
Shell brought the case, which Greenpeace characterized as a "textbook" strategic lawsuit against public participation (SLAPP), in February 2023 and sought $1 million in damages from activists who boarded a Shell-contracted ship carrying equipment to drill for oil in the North Sea.
"When the protest ended, the only damage Shell could find was a padlock which, they alleged, our activists broke. That's it," Greenpeace U.K. said Tuesday. "Yet they came after us with a million-dollar lawsuit, which they justified for their spending on safety."
The group, which warned that the case had dire implications for the right to protest, credited a "sustained, year-long campaign against the suit" for forcing the oil behemoth to back down. The campaign, according to Greenpeace, "turned the legal move into a PR embarrassment for Shell."
"The case was dubbed the 'Cousin Greg' lawsuit by Forbes after a scene in the Emmy-awarded drama Succession, in which the hapless character threatens to sue Greenpeace to universal dismay," the environmental group noted Tuesday.
Greenpeace is currently facing several other SLAPP suits, including one brought by Energy Transfer, majority-owner of the Dakota Access pipeline. The group said Tuesday that the Energy Transfer suit "threatens the very existence of Greenpeace in the U.S."
"These aggressive legal tactics, the huge sums of money, and attempts to block the right to protest pose a massive threat. It could stop Greenpeace being able to make a real difference on the things that matter most," the organization said Tuesday. "It's part of a growing trend by powerful corporations and governments to crush peaceful protest—using draconian laws or intimidation lawsuits like this."
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"What we are seeing is a violation of the disengagement agreement from 1974," said Geir Pedersen, the United Nations' special envoy to Syria.
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The United Nations' special envoy to Syria said Tuesday that the Israeli military's rapid move to seize Syrian territory following the Assad government's collapse is a grave violation of a decades-old agreement that Prime Minister Benjamin Netanyahu claims is now dead.
"What we are seeing is a violation of the disengagement agreement from 1974, so we will obviously, with our colleagues in New York, follow this extremely closely in the hours and days ahead," Geir Pedersen said at a media briefing in Geneva.
Hours earlier, Pedersen told Zeteo's Mehdi Hasan that "this needs to stop," referring to Israel's further encroachment on the occupied and illegally annexed Golan Heights.
"This is a very serious issue," Pedersen said, rejecting Netanyahu's assertion that the 1974 agreement is null. "Let's not start playing with an extremely important part of the peace structure that has been in place."
"The message to Israel is that this needs to stop, What we are seeing in the Golan is a violation of the 1974 agreement. This is a very serious issue."
The UN's Syria Special Envoy tells me on 'Mehdi Unfiltered' that Israel's unlawful actions in Syria need to stop. pic.twitter.com/G7jSWJ8oP0
— Mehdi Hasan (@mehdirhasan) December 9, 2024
Netanyahu, who took the stand for the first time Tuesday in his long-running corruption trial, made clear in the wake of Assad's fall that he views developments in Syria as advantageous for Israel, writing on social media that "the collapse of the Syrian regime is a direct result of the severe blows with which we have struck Hamas, Hezbollah, and Iran."
The prime minister also thanked U.S. President-elect Donald Trump for "acceding to my request to recognize Israel's sovereignty over the Golan Heights, in 2019," adding that the occupied territory "will be an inseparable part of the state of Israel forever."
The Washington Postreported late Monday that "within hours of rebels taking control of Syria's capital, Israel moved to seize military posts in that country’s south, sending its troops across the border for the first time since the official end of the Yom Kippur War in 1974."
"Israeli officials defended the move as limited in scope, aimed at preventing rebels or other local militias from using abandoned Syrian military equipment to target Israel or the Golan Heights, an area occupied by Israel after the 1967 Arab-Israeli war," the Post added. "On Monday, more troops could be seen outside this Druze village adjacent to the border, preparing to cross."
The United States, Israel's main ally and arms supplier, also defended the Israeli military's actions, with a State Department spokesman telling reporters Monday that "every country, I think, would be worried about a possible vacuum that could be filled by terrorist organizations on its border, especially in volatile times, as we obviously are in right now in Syria."
Watch StateSpox justify Israel’s invasion of Syria based on hypotheticals.@shauntandon: Israel has gone across the Golan Heights, the UN said it’s a violation, does the US agree
Miller: Every country would be worried about a possible vacuum that could be filled by terrorist… pic.twitter.com/AA7lNhfSt1
— Assal Rad (@AssalRad) December 9, 2024
On Tuesday, Israel denied reports that its tanks reached a point roughly 16 miles from the Syrian capital as it continued to bomb Syrian army bases.
"Regional security sources and officers within the now fallen Syrian army described Tuesday morning's airstrikes as the heaviest yet, hitting military installations and airbases across Syria, destroying dozens of helicopters and jets, as well as Republican Guard assets in and around Damascus," Reutersreported. The U.S. also bombed dozens of targets in Syria in the aftermath of Assad's fall.
The governments of Iraq, Qatar, Iran, and Saudi Arabia have each denounced the Israeli military's seizure of Syrian land, with Qatar's foreign ministry slamming the move as "a dangerous development and a blatant attack on Syria's sovereignty and unity as well as a flagrant violation of international law."
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